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The Solana price surged 6% in the past 24 hours to trade at $181.64 as of 3:59 a.m. EST, with trading volume soaring 10% to $19.8 billion.
This increase in the SOL price comes amid concerns of a potential sell-off after an anonymous Solana whale moved nearly 300,000 tokens to Coinbase, valued at over $52 million at the time.
🚨 🚨 🚨 299,999 #SOL (52,800,348 USD) transferred from unknown wallet to Coinbase Institutionalhttps://t.co/gViZ8SAYi6
— Whale Alert (@whale_alert) July 17, 2025
The tokens were moved from an unknown wallet, suggesting a potential intention to liquidate holdings, which would increase price volatility.
Can Solana withstand short-term pressure, or will the concerns of a sell-off spark a bearish move?
Solana Price Breaks Out: Bullish Momentum Builds Toward $251 Target
The SOL price on the daily chart shows a clear bullish breakout after weeks of consolidation.
SOL has surged above both the 50-day Simple Moving Average (SMA) ($152.96) and the 200-day SMA ($163.74), confirming a shift in trend.
The breakout above the horizontal resistance near $175 suggests that buyers are regaining control, with the price of Solana now pushing toward the previous swing high at $188.
Meanwhile, the Relative Strength Index (RSI) is elevated at 72.96, indicating strong momentum but also hinting at overbought conditions that could trigger a minor pullback.
The blue Moving Average Convergence Divergence (MACD) has also crossed above the orange signal line, confirming the bullish sentiment in the long term.
If Solana sustains the current breakout, the price could surge above the $188 resistance on the 0 Fibonacci level, as the bulls target $251, a 38% rally from the current level.
On the other hand, the RSI indicates that SOL is overbought and may correct in the coming days. The whale move, if it ends up in a sell-off, could also be a catalyst for a bearish downtrend.
If these scenarios end up favoring the bears, the SOL price could plunge back to the 0.236 Fibonacci Retracement level at $147.98.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO crypto called Snorter Token (SNORT). According to Jacob Crypto Bury, a popular crypto YouTuber with over 57K subscribers, SNORT could potentially soar 100X on launch.
Snorter Token Presale Surges Past The $2 Million Mark – Next 100X Crypto?
Snorter Token promises a Telegram-based bot for trading meme coins on Solana, complete with sniper order features, MEV protection, scam detection, and copy-trading. Its presale has garnered over $2 million in funding, showcasing continued interest from investors.
Instead of selling illusions, Snorter delivers the kind of infrastructure that matters when speed, cost, and timing can make or break a trade.
Built directly on Solana, Snorter bypasses Ethereum’s network congestion and sky-high gas fees.
It’s optimized for fast execution and low-cost trades from the start, thanks to custom RPC connections through private Solana nodes.
It’s incredibly adept at navigating token launches to stay ahead of MEV bots and whales as well, and it has an 85% success rate at identifying rug pulls.
Snorter Bot also beats the competition in terms of fees. By simply holding the SNORT tokens, traders reduce their execution fees from 1.5% to 0.85%, undercutting other Telegram bots.
If you’ve been looking for something fresh with momentum, look at @SnorterToken. https://t.co/EFm8lkG6Lg
— KAROLLINA (@KarollinaOk) July 8, 2025
Early investors can also stake their tokens for a massive 197% APY, although this rate decreases as more buyers join in.
The token is currently in the presale stage and is priced at $0.0985. Investors can buy SNORT tokens with SOL, ETH, USDT, or a bank card through the widget on the project’s website.
Interested investors should act before the next presale price hike in about 24 hours.
Check out the Snorter Token website.
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